Gambling legislation came into existence with the opening of online gambling sites because these online gambling sites were open for all. In the beginning there was no gambling law nor were the governments of countries concerned about it. But soon the increasing rate of people involved in gambling every day forced the governments of different nations to establish gambling legislation in their state. In many nations gambling is not illegal whereas in some states government has passed gambling legislation. On the other hand many states have made only some games illegal and rest of the games legal. Like the sports betting is illegal in many countries.
The establishment of gambling legislation has always been the topic of concern as there can be both good and bad effects of establishing a gambling legislation. The areas where gambling legislation is set can increase the crime rate, bankruptcies on one hand and legislation of gambling can help the government by boosting the economic and opening job opportunities for the people on the other hand.
Pros and cons of gambling legislation
There are few questions which should be answered to set a gambling legislation in a place like
The information about the winning odds of a game offered by the gambling industry
The impact of gambling on the poor population
The amount of money that the government gets as revenue from gambling industry
Can gambling become a reliable, advantageous and efficient source of revenue?
Do gambling industry increase job options for the society
Can the public funds be raised with the gambling industries?
These are all important questions because of the reasons described here
Most of the times the games offered at gambling sites like lottery, dice table don’t give attractive results. People lose more in them instead of winning heavy amount.
The games of gambling industries are played by both poor and rich people. The people with poor income will never want to lose their money and so they bet higher amount of their money to get more out of their investment without knowing the outcome of the game. The result of which is very serious sometimes and they lose all they have with them.
In many places the very small part of gambling income is supplied for operating cost.
States try to increase business by introducing new games or making attractive the existing games. A lot of money is spend in attracting players that was to increase the treasury income. It is also known that gambling not generate big employment opportunities. The jobs at gambling industries are generally of low earning positions which are found at tracks, casinos, and lotto outlets. In addition the locals don’t always get the advantage of these jobs.
So these are the points which should be considered when establishing a gambling legislation in any state. It is also to consider that as gambling sites are growing day by day and number of people is increasing in this field to judge their luck so setting of a gambling legislation is requirement of any states.